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Fashola Commends Zenith Bank, Tasks Organizations On Corporate Social Responsibility

Sep 5, 2008 - Lagos State Governor, Mr. Babatunde Fashola (SAN), Friday called on business organizations in the State to take the issue of Corporate Social responsibility more seriously saying it is the only way to put something back to the society in which they operate.

Fashola, who spoke at the signing of a concession agreement between the State Government and Zenith Bank Plc on Ajose Adeogun Street Victoria Island at the New Lagos House Ikeja, said the call, has become necessary because Government could not go it alone in the development of infrastructure for the State.

He reminded corporate organizations that every investment in Corporate Social Responsibility in the manner done by Zenith Bank could in the long-run translate into an improvement in their estates and ultimately returns on their investments, adding that the State Government was always responsive to the moves by any organization or citizen to undertake any of the responsibilities in the State.

“As we position ourselves to rebuild the infrastructure of this state, corporate organization and citizens will do well to take the issue of Corporate Social responsibility more seriously so that we will all build the Lagos of our dreams”, the Governor said, adding that Government could not do it all as it was constrained by so many things such as the budget and other responsibilities.

According to the Governor, “The quicker Corporate Citizens begin to take responsibility for some of the things they can easily do, the quicker we will be able to get out of the woods”, adding that “Every investment you make on roads is an investment to the improvement of your estate”.

“The option of Corporate Social responsibility are never cast in any rigid form”, the Governor said adding that the State Government was ready to welcome it in any form it comes, so that sooner than later we will turn this State around to the benefit of all.

The Governor commended Zenith Bank Plc for taking up Ajose Adeogun as a Corporate Social Responsibility saying that apart from the benefit to the society, the investment would further boost the returns of the bank.

Governor Fashola who said that Zenith Bank had always demonstrated a willingness to partner with the State Government recalled the donations to the State’s Security Trust Fund as some of the contributions of the bank in the development of the State.

“I acknowledge that since the inception of this administration, the Zenith Bank, led by Mr. Jim Ovia, has consistently stood up to be counted wherever Lagos State is concerned”, Governor Fashola said citing the donation of 40 vehicles to the Rapid Response Squad, the building of an Information and Communication Technology (ICT) Centre in the State and taking responsibility to pay monthly allowances to RRS men patrolling the Ozumba Mbadiwe – Lekki Expressway as praiseworthy examples.

Giving reason for the concessional Agreement on the street, Governor Fashola said because the Bank not only rebuilt the road but also undertook to maintain it, it was the little that the State Government could do by conceding the right of advertisements on the road to the Bank as a mark of appreciation for what he described as “Corporate Social Responsibility at its peak”.

“What has happened here gives vent to the thinking that every chief executive should begin to take the issue of Corporate Social responsibility more seriously so that we can all achieve the Lagos of our dream”, the Governor said.

Earlier, the Zenith Bank Managing Director, Mr. Jim Ovia said the bank undertook the rebuilding of Ajose Adeogun Street as a way of putting back a little of what it got from the society having operated a tremendously successful business on the street.

He recalled that the Bank started its business 18 years ago in a small apartment on the street.

“The rebuilding of Ajose Adeogun”, the chief executive said, “is an emotional thing to us because we started from there. The board did not understand why we could undertake to rebuild the road. But Corporate Social Responsibility has no bound”.

According to him, the bank will spend between N150 to N200 million yearly to maintain the road adding that the maintenance also meant lighting up the street and providing water and other facilities on a permanent basis.

Calling on other organizations to take a cue from Zenith, Ovia declared, “We believe that this concession will ginger other corporate organizations to take up other streets in the metropolis if this is done, before long all streets in Lagos will be taken up and maintained by corporate organizations and this will save the Lagos State Government the responsibility on those streets”.

He thanked the Governor for the opportunity given to the bank to partner with the government saying he has always been desirous to partner with the State Government as a way of putting back a little of what it has got from the society.

The signing ceremony, which was conducted by the Attorney-General and Commissioner for Justice, Mr. Olasupo Sasore (SAN), also had in attendance the Special Adviser on Works, Engineer Ganiyu Johnson and the Managing Director of the Lagos State Signage and Advertisement Agency (LASAA) Mr. Makanjuola Alabi who moderated the event.